End of Encryption Market Selling Operations
JPMorgan predicts the end of last encryption market Selling operations, expect limited decline and possible stability in near term.
JPMorgan predicts the end of last encryption market Selling operations, expect limited decline and possible stability in near term.
the latest deflation in The cryptocurrency markets seem to be coming to an end, according to A new JPMorgan Chase & Co. Analysis
The company says the liquidations are long-term in encryption world Mostly resolved and further sharp declines are unlikely. While still echoing the cryptocurrency markets lately behavior It is suggested that the marketrelax phase is coming to an end.
express interest in Futures of Bitcoin (BTC) trading. on The Chicago Mercantile Exchange (CME) indicates that a market correction is imminent over. Open interest, which is a measure that represents the number of unstable and active futures contracts, usually shows when price trend may weaken. Analysts, including Nikolaos Panigirzoglu, have noted that decrease in Open interest indicates a possible ending of Recent sales.
K result of This analysis, JPMorgan team He sees “limited downside for crypto markets over near term”.
Over the last Two Weeks Later, Bitcoin Has Seen Nearly 12% drop after maintaining its stability trading pattern for about a month.
previously in season, coding market It was energized by several developments that were considered favorable, such as A series of Applications for the first American exchange-traded funds (ETFs) pegged to spot bitcoin price. BlackRock Inc. led the charge.
Moreover, court decision For Ripple Labs in continuing legal battle with The Securities and Exchange Commission (SEC) has encouraged it more broadly market.
However, some of This initial excitement began to wane. Traders expect now decisions on Get Bitcoin ETF approvals and SEC appeals against Favorable court ruling for ripple. The result is even unexpected next yearhas creatednew round of legal uncertainty,” making markets highly reactive to legal matters regulatory news.
It is interesting to report also Additional stimuli indicated for the market revision. the news Written by Elon Musk SpaceX off some of Bitcoin holdings in the last quarter and concerns about growth in China also played a role in last encryption market revision.
Wider Market Conditions
This decline was not isolated to cryptocurrencies. It was partly a reflex of a more Extensive correction in risk assets Like stocks, it is driven by “foamy centers”. in tech, higher we real proceeds,” according to research NB.
last friday, risk assets It experienced further turmoil after Federal Reserve Chairman Jerome Powell signaled its willingness to raise interest rates further if necessary, with the aim of maintaining high borrowing costs until inflation is convincingly close to the target. set by policy makers.
in general, next It will likely be a few months critical for encryption market It will provide more insight into these dynamics.
